AQR Capital Management LLC Increases Holdings in Gartner, Inc. $IT

AQR Capital Management LLC lifted its holdings in Gartner, Inc. (NYSE:IT) by 304.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 660,186 shares of the information technology services provider’s stock after acquiring an additional 496,957 shares during the period. AQR Capital Management LLC’s holdings in Gartner were worth $266,860,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IT. PDT Partners LLC purchased a new position in Gartner in the 2nd quarter worth approximately $875,000. Florida Financial Advisors LLC grew its holdings in Gartner by 31.0% during the 2nd quarter. Florida Financial Advisors LLC now owns 629 shares of the information technology services provider’s stock valued at $252,000 after buying an additional 149 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Gartner by 4.3% during the second quarter. California State Teachers Retirement System now owns 121,345 shares of the information technology services provider’s stock valued at $49,050,000 after buying an additional 5,009 shares during the last quarter. Financial Advisors Network Inc. lifted its holdings in shares of Gartner by 8.9% in the second quarter. Financial Advisors Network Inc. now owns 5,529 shares of the information technology services provider’s stock worth $2,235,000 after buying an additional 452 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its holdings in shares of Gartner by 142.5% in the second quarter. Worldquant Millennium Advisors LLC now owns 238,605 shares of the information technology services provider’s stock worth $96,449,000 after buying an additional 140,228 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other news, Director Stephen G. Pagliuca purchased 43,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were bought at an average cost of $229.57 per share, for a total transaction of $9,940,381.00. Following the acquisition, the director owned 111,613 shares of the company’s stock, valued at approximately $25,622,996.41. This trade represents a 63.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Claire Herkes sold 367 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $231.56, for a total transaction of $84,982.52. Following the completion of the sale, the executive vice president directly owned 4,074 shares in the company, valued at $943,375.44. This trade represents a 8.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.30% of the stock is owned by corporate insiders.

Gartner Stock Performance

NYSE:IT opened at $233.63 on Friday. The firm has a market capitalization of $16.84 billion, a PE ratio of 20.49 and a beta of 1.08. The stock’s fifty day moving average is $237.16 and its 200 day moving average is $293.84. Gartner, Inc. has a fifty-two week low of $222.54 and a fifty-two week high of $584.01. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.88 and a current ratio of 0.88.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.76 EPS for the quarter, topping the consensus estimate of $2.41 by $0.35. Gartner had a net margin of 13.71% and a return on equity of 92.12%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.52 billion. Gartner has set its FY 2025 guidance at 12.650- EPS. On average, sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IT shares. Barclays cut their target price on shares of Gartner from $270.00 to $260.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Wolfe Research assumed coverage on Gartner in a research report on Wednesday, September 3rd. They set a “peer perform” rating for the company. Royal Bank Of Canada assumed coverage on Gartner in a report on Tuesday, September 9th. They issued a “sector perform” rating and a $263.00 target price on the stock. The Goldman Sachs Group dropped their price target on Gartner from $457.00 to $390.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, BMO Capital Markets cut their price target on Gartner from $272.00 to $254.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $311.67.

About Gartner

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.